By Sami Zaptia.
Tripoli, 5 August 2014:
The Central Bank of Libya (CBL) has suspended the electronic cheque clearing system (ACH) for one . . .[restrict]week until end of business on 10 August – due to fraud.
The Central Bank of Libya said that its decision came as a result of the “current circumstances” that Libya finds itself in, referring to the current security crises in the country which it said has been “exploited by some” to present false cheques to commercial banks.
The CBL asked commercial banks to urgently circulate the news of this suspension of the service to all their branches and request that they review all cheque transactions. [/restrict]
